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Article: Al Rajhi steel plant contract goes to Italian firm.(Mohammed Bin Abdul Aziz Al Rajhi & Sons Industrial Holdings and Danieli)(Brief article)
- Article from:
- Saudi Economic Survey
- Article date:
- August 27, 2009
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Mohammed Bin Abdul Aziz Al Rajhi & Sons Industrial Holding Co. has signed a contract with the Italian foundry equipment maker Danieli for construction of a steel plant in Jeddah.
The cost of the contract is SR 800 million and the proposed plant would have the capacity of producing a million tons of steel annually.
The contract was signed at Al Faisaliyah Hotel in Riyadh.
The Deputy Minister for Industrial Affairs in the Ministry of Commerce and Industry, Dr. Khalid Al Sulaiman,who spoke on the occasion, stressed that the signing of this contract is a proof of the strength of the Saudi economy at this period in time when the world's economy is ...